Inflation rises less than expected in March

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The consumer price index (CPI) rose less than expected in March, according to the Bureau of Labor Statistics.

The gauge of inflation and prices paid by consumers rose 0.1%. Excluding volatile food and energy costs, core CPI also rose by 0.1%.

Economists had estimated that both CPI and core CPI rose 0.2%.

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Compared to March 2015, CPI was up 0.9% and core CPI climbed 2.2%. Economists had forecast that CPI rose 1%, and core CPI increased 2.3%.

The costs of housing, medical care and cigarettes were among those that rose in March as clothing, furniture and secondhand car prices fell.

Gas prices increased in March, raising the energy index for the first time in November.

In a preview, Deutsche Bank said, "While the CPI is a top-tier indicator for the financial markets, the near-term data may be somewhat less relevant given Chair Yellen's recent emphasis on the broader global economy."

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